Eventbrite, Inc. (NYSE:EB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Eventbrite, Inc. (NYSE:EB) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.00.

Several analysts recently commented on EB shares. Piper Sandler decreased their price target on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Morgan Stanley decreased their price target on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, Truist Financial decreased their price target on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 28th.

Eventbrite Stock Performance

Shares of EB opened at $5.38 on Thursday. The firm’s 50 day moving average is $5.87 and its 200-day moving average is $7.25. The stock has a market capitalization of $548.05 million, a P/E ratio of -19.93 and a beta of 2.51. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99. Eventbrite has a 12-month low of $5.00 and a 12-month high of $11.90.

Eventbrite (NYSE:EB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. The company had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Equities research analysts anticipate that Eventbrite will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $5.52, for a total transaction of $110,400.00. Following the transaction, the chief financial officer now owns 357,839 shares of the company’s stock, valued at $1,975,271.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.28% of the company’s stock.

Institutional Investors Weigh In On Eventbrite

A number of institutional investors have recently bought and sold shares of EB. Covestor Ltd boosted its stake in shares of Eventbrite by 217.7% in the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after purchasing an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Eventbrite in the 4th quarter valued at $33,000. Principal Financial Group Inc. acquired a new stake in shares of Eventbrite in the 1st quarter valued at $58,000. Victory Capital Management Inc. acquired a new position in Eventbrite during the 4th quarter worth about $89,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Eventbrite during the 4th quarter worth about $102,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.